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January 10, 2007
REDWOOD CITY, Calif. -- Nimsoft, a leading provider of service level management solutions, today announced that the company has secured $10.3 million in funding from JMI Equity and Northzone Ventures. Nimsoft, established in 1998 and profitable since its founding, has never received any external investment capital and has grown organically to more than 400 customers. The capital investment will fund an expansion of the company's worldwide sales and marketing outreach and will further develop its product offerings, which help customers manage critical IT resources and application performance. For the past three years, Nimsoft has consistently grown revenues in the high double digits, evidence of market acceptance of Nimsoft's low cost, easy-to-deploy solutions.
Lead investors Peter Arrowsmith of JMI Equity and Torleif Ahlsand of Northzone Ventures will join Nimsoft's board of directors. Both venture capital firms have helped lead growing infrastructure software companies into successful, industry-leading businesses.
"Under the strong leadership of Gary Read and his team, Nimsoft's solutions are the most comprehensive in its class," said Peter Arrowsmith, general partner of JMI Equity. "NimBUS is bringing the power of enterprise-class, service level management to both medium and large-sized enterprises in addition to building a rapidly expanding business with managed service providers. Overall, our due diligence revealed a customer base that was ecstatic about Nimsoft's customer service and hailed them as the leader in a new wave of vendors in this market."
JMI Equity Fund LP
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